NEWPORT BEACH, Calif. (October 25, 2023) – KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, announces that it has been recognized for sustainability and received a Green Star designation in the 2023 GRESB Real Estate Assessment. Each year, GRESB assesses the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics.
This is KBS’ first year participating in the GRESB assessment. With plans to participate annually, the company is demonstrating its continuing commitment to ESG transparency and improved performance, according to Marc DeLuca, CEO and eastern regional president of KBS.
“KBS views sustainability among its top values as a real estate owner and operator. The ranking from GRESB validates our initiatives over the past several years” says DeLuca. “The firm is honored to be recognized among some of the world’s largest real estate companies.”
KBS is constantly seeking new and innovative ESG initiatives to implement at its buildings across the country, including establishing a dedicated “Green Team” in 2022 to strengthen its focus on environmental, social and governance. The Green Team is led by ESG Manager Apaulo Malloy, who directs the company’s efforts as a proactive strategy to drive KBS toward a sustainable future.
“Our firm looks for new ways to incorporate sustainable practices into our assets,” says Malloy. “In addition to launching the Green Team last year, these efforts include LEED and ENERGY STAR certifications, filtered air verifications, the addition of EV charging stations, urban bee apiaries and more. In 2022, we achieved the UL Verified Healthy Building Mark for Indoor Air for more than 14 million square feet of Class A office space—a goal that took only six months to achieve.”
GRESB assessed KBS’ strengths and opportunities related to ESG, including building certifications, data monitoring and review, waste, water, greenhouse gas emissions, energy, leadership, policies, reporting, risk management, stakeholder engagement, risk assessment, targets, and tenants and community.
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. The GRESB ESG Benchmark grew this year to cover more than USD 8.8 trillion of gross asset value, encompassing 2,084 real estate entities, 687 infrastructure assets and 172 infrastructure funds.
GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future.
“Reviewing the benchmarks for this year, it’s evident that the industry’s dedication to ESG principles is stronger than ever, as showcased by the continued increase in participation and broader data coverage,” says Sebastien Roussotte, CEO of GRESB. “We applaud investors and managers in the real assets sector for their resolute pursuit of sustainability.”
KBS is one of the largest investors of premier commercial real estate in the nation. As a private equity real estate company and an SEC-registered investment adviser, KBS and its affiliated companies have completed transactional activity of more than $44.8 billion on behalf of private and institutional investors globally. Founded in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates prime commercial real estate in some of the most successful epicenters in the country. The firm is committed in its business ethics, its business relationships, and its constant focus on exceeding the expectations of its investors, partners, and tenants. SEC registration as an investment advisor does not imply any particular level of skill or training. For more information on KBS, please visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’ ability to invest in and manage a diverse portfolio, and the performance of the real estate markets in which the firm operates. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS’ actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.